Permanent Capital Management LP Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Permanent Capital Management LP bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,440 shares of the information services provider’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Alphabet by 2.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 113,833 shares of the information services provider’s stock worth $21,549,000 after acquiring an additional 2,907 shares during the period. Naviter Wealth LLC grew its holdings in shares of Alphabet by 63.0% in the 4th quarter. Naviter Wealth LLC now owns 92,836 shares of the information services provider’s stock worth $17,574,000 after acquiring an additional 35,871 shares during the period. Marble Harbor Investment Counsel LLC grew its holdings in shares of Alphabet by 2.8% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 40,157 shares of the information services provider’s stock worth $7,602,000 after acquiring an additional 1,075 shares during the period. Capital Management Corp VA grew its holdings in shares of Alphabet by 3.1% in the 4th quarter. Capital Management Corp VA now owns 43,979 shares of the information services provider’s stock worth $8,325,000 after acquiring an additional 1,303 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $377,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.7 %

NASDAQ:GOOGL opened at $162.80 on Friday. The business’s 50-day moving average is $183.13 and its two-hundred day moving average is $176.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12 month low of $146.90 and a 12 month high of $207.05. The firm has a market capitalization of $1.98 trillion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GOOGL shares. Robert W. Baird restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Piper Sandler lowered their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.